Announcing Updated Tokenomics

Today marks the first anniversary of the NetMind Chain, and we want to start by thanking our community for your incredible support over this past year. On this significant milestone, we are excited to announce that the tokenomics upgrade has been completed successfully, and significant changes have been implemented as of today.

Check high-level information here: power.netmind.ai/NMT. CoinMarketCap and CoinGecko updates are in progress.

Major Tokenomics Updates:

Redistribution Plan: The circulating supply by April 16th, 2024 stands at 34,571,163 NMT. Starting today, 113,000,000 NMT will be issued over the next 10 years. While Mining, Staking, and the Team Fund remain the same categories, the Community Fund has been reorganized into two categories: Ecosystem Growth and Strategic Investors & Advisors. This planned distribution is designed to enhance the long-term viability and functionality of the NetMind ecosystem.
Token Supply and Burn: The total maximum supply of NMT is now set at 147,571,163, including current circulation. We have successfully burned approximately 9.85 billion tokens, reducing supply by 98%.

https://nmscan.netmind.ai/tx/0xcd4655329ad4e4a7bd4e25fcd4a2bbb674543b20200a77ad57a54dbca82cfe4c

https://nmscan.netmind.ai/tx/0x791a00f667f10fca17e81c71c7c2b30cef0d836d472b433ca8b7ba04b8698744

https://nmscan.netmind.ai/tx/0xd5e362f083c8f58750c6cd5c7c57c7dc443edd91e00f6410654d20252ff88261

Zearly Rewards Adjustment: As promised, we have burned 869,817 tokens from circulation, originally allocated to the Zearly airdrop rewards program.

https://nmscan.netmind.ai/tx/0xd8ef533e315ccc84e3adb8ddcd8b63822b97eb4dbab3fc5e8e358176dc4858ac

(Here is the address where you can check the total amount of tokens burned: https://nmscan.netmind.ai/address/0x0000000000000000000000000000000000000000)

Detailed Redistribution Overview (over the 10-year period):

(Chart: Allocation of Newly Issued Tokens Since April 16, 2024)

(Chart: Token Allocation Based on New Total Supply)

Mining Rewards: 62.5 million NMT (55.31% of new issuance; 42.35% of new total supply) for computational power providers, with a revised portion for early GPU contributors set at 5 million tokens, vesting from April 16, 2026.
Staking Rewards: 16.5 million NMT (14.60% of new issuance; 11.18% of new total supply) allocated for staking.
Team Fund: 10 million NMT (8.85% of new issuance; 6.78% of new total supply) reserved for the NetMind technical team.
Reorganized Community Fund:
Ecosystem Growth Fund: 16.5 million NMT (14.60% of new issuance; 11.18% of new total supply) to support community growth.
Strategic Investors & Advisors: 7.5 million NMT (6.64% of new issuance; 5.08% of new total supply) designated for key partners.

Below are the Monthly Emissions, Cumulative Circulating Supply (with projection) and detailed Token Allocation.

Other Key Points in Our Updated Tokenomics:

Actual vs Maximum Emissions:
The actual emissions are likely to be lower than the maximum stated emissions. We've based our projections on a series of assumptions, as detailed in the accompanying graph, indicating that allocations for mining, staking, or ecosystem funds may not be fully utilized each year. This method underscores our commitment to sustainable and responsible token issuance, ensuring that the practical implementation of our emissions strategy remains conservative compared to the theoretical maximum outlined.
Halving and Decreasing Mechanisms:
Mining Halving Algorithm: The mining reward will halve every four years, starting with 10 million tokens annually for the first two years, then decreasing every two years to 7.5 million, 5 million, 3.75 million, and finally 2.5 million in the last period.
Smoothing Mechanism for Other Categories: All other categories will implement a decreasing mechanism but with a smoother curve to ensure a gradual reduction in token issuance, maintaining economic stability.

Staking Rewards Structure:
Our staking rewards continue to be drawn from the staking rewards pool, supporting flexible, fixed-term, and master node staking options. 10% of the rewards are designated for the top 21 Master Node operators, while the remaining 90% are allocated to users involved in staking or providing liquidity (with weight coefficient 2) to official trading pairs. Rewards are distributed daily based on participation, with long-term staking receiving a higher weight coefficient. Further details will be announced by April 30th, 2024.

The updates to our tokenomics mark a significant step forward in our journey towards a stronger and more sustainable ecosystem. By refining our token supply and distribution, we're ensuring a more balanced and equitable allocation of resources. This not only enhances the stability and longevity of the NetMind Chain, but also creates greater value for our community and stakeholders. With these changes, we're laying the foundation for continued innovation, growth, and collaboration within our ecosystem, fostering a thriving environment where everyone can contribute and benefit.

Engage and Learn More: For a complete understanding of updated tokenomics and to view detailed allocations, please visit our updated whitepaper.

https://netmind-power.gitbook.io/white-paper/7.-netmind-token

We're incredibly grateful for the continued support from each of you in our community. Here's to another year of innovation, growth, and success together!